Iran Banks Said to Be Skirting Cash Ban

By

Leila Hatoum and

Nicolas Parasie

Updated Feb. 6, 2013 4:18 p.m. ET

DUBAI—Iranian banks have managed to bypass a ban imposed last year that was intended to cut its access to global financial transactions through the world's most-used electronic payment system, known as Swift, according to executives that run the system.

Swift officials told The Wall Street Journal that Iranian banks have fallen back on simpler methods for executing transactions with their international counterparts, sending...